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SoftBank Group revealed plans to repurchase $3.4 billion in shares, responding to investor calls to improve stock value. This move follows a narrower quarterly loss and aims to strengthen finances after challenges like the WeWork debacle. The repurchase will be up to 6.8% of its shares over the next year.

The stock traded at a P/E multiple of 31.27, while the price-to-book value ratio stood at 4.96.

The brokerage believes that the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

As of 30-Jun-2024, promoters held 51.14 per cent stake in the company, while FIIs held 17.43 per cent and domestic institutional investors had 16.08 per cent.

Despite SEBI taking longer to approve IPOs in 2024, companies have reduced the time to launch their offerings to an average of 81 days. The enhancement in efficiency is attributed to improved planning prior to receiving regulatory approval and favorable market conditions, enabling quicker IPO rollouts.

A total of 1,562 shares changed hands on the counter till 11:41AM (IST).

On the technical charts, the RSI of the stock stood at 43.65.

PFC shares rose 6% to Rs 501.65 on BSE after posting a 20% increase in Q1 FY25 net profit to Rs 7,182 crore. Total income grew to Rs 24,736.68 crore. The board also approved an interim dividend of Rs 3.25 per share, with August 20 as the record date.

​So, from that perspective, real estate looks good to us because what will happen that at this point in time the premium segment of the market was doing well and our sense is that with this kind of anticipation of further rate cuts and amendments like these, the growth will broaden up. Overall sense is that the double-digit kind of a pre-sales growth has been largely maintained by most of the players, but valuation also has inched up.